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booz

2,172 Posts.

05/08/14

14:34

Post #: 13772150
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Originally posted by booz ↑

Perhaps. But dropping your 5 year fixed rate, first, to lure in the suckers, before then reducing your 1 and 2 year fixed rates is a very clever strategy...particular when the tactic is accompanied by headlines that scream " first time ever that 5 year rates fall below 5%!"

So, after the big four have signed up the naïve for a 5 year fixed rate, I think you'll see some further reduction in the 1 and 2 year fixed rates over the coming weeks and months.

As I have already said: hold your ground. Time is on the side of the borrower not the banks.

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"On present indications, the most prudent course is likely to be a period of stability in interest rates."

Next move will be down, not up, for both fixed and variable rates.
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